Rise in Comcast’s stock price
On August 10, 2016, Comcast’s (CMCSA) stock price closed at $66.98. The company’s stock price has risen by 18.5% YTD (year-to-date). Media company Charter Communications (CHTR) has also seen its stock price rise by 11.7%.
Factors driving the stock price rise
Comcast’s fiscal 2Q16 earnings also exceeded consensus Wall Street estimates. It declared EPS (earnings per share) of $0.83, which exceeded Wall Street analysts’ estimate of $0.81.
Comcast’s Triple Play business is doing exceedingly well. Comcast’s Cable Communications business had revenues of $12.4 billion in fiscal 2Q16, up by 6% year-over-year. Its revenue growth was primarily driven by its High-Speed Internet, Video, and Business Services segments.
In this series, we’ll explore the broad trends that could affect Comcast Cable. We’ll also look at whether Comcast’s deal with Netflix could impact the company negatively. Finally, we’ll look at the technical indicators for the company.
We’ll start by looking at analysts’ ratings for Comcast.